Letterman will retire in 2015

David Letterman made the announcement during the taping of Thursday’s Late Show. In his announcement, Letterman thanked the staff, network and other various people. His retirement will mark the end of over 30 years that he had hosted The Late Show, reports Time.

One source with a close connection to The Late Show gave Fox News some insight as to why Daivid Letterman is retiring. According to this source, one of the reason that Letterman is retiring has to do with his age and health. The other reason is that both Jimmy Kimmel, host of ABC’s Jimmy Kimmel Live!, and Jimmy Fallon, host of NBC’s The Tonight Show, are catching up to Letterman and he wants to leave while he is still on top.

Rumors of who will be hosting The Late Show after David Letterman retires are already being discussed. Names that are being thrown around as potential successors to Letterman include Craig Ferguson, Jon Stewart, Stephen Colbert and Conan O’Brien, Time notes.